What happens to my Wealth Bonus if my premium reduces?
When you reduce your premium, nothing happens to the Wealth Bonus you’ve earned so far, but the monthly Wealth Bonus contribution we add into your growing investment will drop because this is calculated as a percentage of your premium.
For example, say you were a 28-year-old paying R200 a month for your Indie policy. At that age, we’d be matching 100% of your premium – so we’d contribute R200 a month into your investment account. If you decided to reduce your cover and started paying R150 a month, the existing Wealth Bonus would remain untouched and would continue growing. But we’d start putting R150 a month into your investment from that point on, to match your reduced premium.
Whenever you reach a CashDrop milestone, you’ll be able to draw 10% of whatever your total Wealth Bonus amount is at that point, no matter how much your contributions to the fund changed over the years.